Tesla Motors CEO Elon Musk has previously said that China could become the biggest market for the Model S electric sedan--and Fisker's new owner apparently has similar thoughts.

Wanxiang's founder has held long-standing ambitions to produce electric cars, but to no avail.

The Fisker purchase, and the expertise in building desirable electric cars that comes with it, could finally put him in a position to move beyond the company's existing electric output--the 700 electric buses currently undergoing trials in Chinese cities.

Guanqiu is under no illusions of the difficulties ahead, either. He says there are "no shortcuts" in competing against foreign automakers--adding that any successful company has to accrue a competitive advantage over time.